Backlash Over Transgender Face on Beer Can... Corporate Value Plummets by 7 Trillion Won

US Beer Company Anheuser-Busch's 'Bud Light'
Sales Down 23% Year-on-Year Last Month
Market Value Plummets $5 Billion (6.6 Trillion KRW)

American beer company Anheuser-Busch (ABI) is facing backlash over its sponsorship of a transgender influencer.

On the 11th (local time), Chicago media reported that some LGBTQ-exclusive bars, so-called gay bars, including those in Chicago, declared they would remove all ABI beers, including the popular product Bud Light, from their shelves.

Bud Light can beer featuring the face of transgender influencer Dylan Mulvaney
[Photo by Dylan Mulvaney Instagram]

The reason is that ABI is "distancing" itself from TikTok influencer and comedian-actor Dylan Mulvaney (26), who is undergoing gender transition from male to female.

ABI, the world's largest beer manufacturer headquartered in St. Louis, Missouri, sent a specially made Bud Light can featuring Mulvaney's face last month to celebrate the first anniversary of his podcast "Days of Girlhood," which sparked backlash from conservative consumers.

Mulvaney appeared on the podcast dressed like Audrey Hepburn in the movie "Breakfast at Tiffany's," saying, "It has been one year since I became a woman, and Bud Light sent me the best gift," proudly showing the Bud Light can with his face on it.

According to TikTok, Mulvaney had 10.8 million followers as of last month, and the Days of Girlhood series surpassed 1 billion views. However, there is also significant criticism that Mulvaney is distorting femininity for commercial success.

Transgender influencer Dylan Mulvany.
Photo by EPA·Yonhap News

Conservative consumers protested, saying, "ABI is partnering with transgender activists and attempting 'gender propaganda'." Retailers, influenced by consumer reactions, removed Bud Light from shelves, and wholesale distributors expressed frustration, saying, "We have suffered financial losses due to ABI's reckless actions."

Local media St. Louis Dispatch reported that Bud Light sales plummeted by 26% as of the third week of last month. ABI's stock price also plunged, causing the market value to drop by $5 billion (approximately 6.6 trillion KRW) within weeks.

ABI explained, "Mulvaney is just one of hundreds of influencers we have partnerships with," adding, "We never intended to spark divisive controversy," and placed two senior marketing officials on leave. They also held a "free beer" event.

However, The Wall Street Journal reported, "ABI has tried to appease consumers and distributors to recover financial losses and damaged reputation but has seen little effect."

CBS reported, "Bud Light sales in the fourth week of last month were $71.5 million (about 95 billion KRW), down 23% compared to the same period last year, and sister brand Budweiser sales ($31.5 million) also decreased by 11% year-over-year," indicating ABI has been experiencing continuous sales declines since the Mulvaney controversy.

ABI Group Takes Steps to Resolve the Situation

As losses from poor sales grew, Michael Doukeris, CEO of ABI Group, rushed to manage the crisis.

During the quarterly earnings announcement on the 5th, Doukeris emphasized, "We made only one can and sent it to one influencer (Mulvaney), and there was one social media post related to it. This was never an official product advertisement."

He promised, "We will provide financial support to delivery drivers, sales staff, wholesalers, and retailers affected by the boycott and will triple Bud Light advertising this summer to restore the brand image through major marketing efforts."

However, LGBTQ advocates and businesses supporting them reacted negatively. 2Bears Tavern Group, which operates multiple LGBTQ bars in Chicago, announced they would remove all ABI products, including Goose Island, a famous Chicago craft beer brand acquired by ABI, from their shelves.

They claimed, "ABI gave up sponsorship of transgender activist Mulvaney due to backlash from some hate groups, showing how little they respect sexual minorities, especially transgender people."

A liquor retailer lamented, "Because of ABI's unnecessary attempt, both cowboy bars and gay bars, which have many conservative customers, have suffered."

Meanwhile, economic news outlet CNBC added that Europe's largest bank HSBC downgraded ABI stock from a "buy" rating to a "hold" rating yesterday in relation to the "Bud Light crisis."

This content was produced with the assistance of AI translation services.